African Development Bank makes senior management appointments
The President of the African Development Bank, Dr. Akinwumi A. Adesina, is pleased to announce the following Senior Management appointments:
Director, Macroeconomic Forecasting and Research
The African Development Bank is pleased to announce the appointment of Dr. Hanan Morsy as Director, Macroeconomic Forecasting and Research, with effect from March 12, 2018.
Dr. Morsy is a citizen of Egypt and a renowned macro-economic and public policy expert with vast experience in international financial institutions and the private sector. She brings a solid track record of top-quality policy analysis and research, a wealth of cross country experience and high-level policy dialogue and partnership. She has published extensively on wide range of economic and development issues and led a number of major flagship publications.
Dr. Morsy has been working as the Lead Economist for the Southern and Eastern Mediterranean Region at The European Bank for Reconstruction and Development in London since 2012. In that role, she established and headed the economic analysis and policy advice for the Southern and Eastern Mediterranean region as a new area of operation, led country missions, headed the policy dialogue with senior officials and the private sector, and developed country strategies for establishing transition priorities while supporting inclusive growth and structural reforms. She led the first The European Bank for Reconstruction and Development’s flagship publication on Private Sector Diagnostics for Egypt and the 2013 Arab Competitiveness Report and managed several donor-funded technical assistance projects.
Prior to joining The European Bank for Reconstruction and Development, she worked at the International Monetary Fund between 2003 and 2012 in various capacities across different departments including, Fiscal Affairs, Middle East and Central Asia, European, and Monetary and Capital Markets as well as Advisor to Executive Director. During her time at the International Monetary Fund, she led and contributed to work on exchange rate assessment, fiscal vulnerability, global financial stability, and macro-prudential policies. She gained extensive experience in economic reform program design and monitoring across a wide range of countries from developing (Kyrgyzstan, Iran, Dominican, and Antigua and Barbuda), to emerging (Pakistan and Kazakhstan), and advanced economies (Italy and Slovenia). Previously, she worked as an Economic Advisor at KPMG Consulting implementing public finance reform project in Egypt.
Dr. Morsy is a Board of Trustee Member at the London Middle East Institute and a Research Fellow at the Economic Research Forum. She served on the Global Sovereign Risk Panel founded by the Peterson Institute for International Economics and Moody’s Investor Services to exchange views and analysis on sovereign credit risk issues. She is a Member of the Economic Policy Panel for Aberdeen, the first Scottish local authority to issue sub-sovereign bonds, as part of the new governance to underpin the Bond Issue, and advise the City Council on economic policies.
Dr. Morsy holds a Ph.D. in Economics from the George Washington University, USA, a Master’s degree in Economics from University of California, USA, and a Bachelor’s degree in Economics and Computer Science from the American University in Cairo, Egypt.
Senior Director, Africa Investment Forum
The African Development Bank is pleased to announce the appointment of Stella Kilonzo, as Senior Director, Africa Investment Forum, effective March 1, 2018.
Kilonzo, a Kenyan national, has been the Division Manager, Capital Markets Division, since December 2013 when she joined the African Development Bank. She brings into this role 17 years of rich experience in the financial sector covering development finance, investments structuring to bankability, capital markets, risk management, corporate finance advisory and accounting.
As the Manager of the Capital Markets Division at the African Development Bank, she has been responsible for driving innovation in capital markets in Africa to accelerate development. One of her key achievements was her leadership of the Bank’s first-ever Partial Credit Guarantee to cover the exchange rate risk on foreign currency borrowing for Cameroon in its first-ever Eurobond issuance to finance infrastructure. She also provided leadership on the Bank’s investment projects in private equity funds, including a fund solely run by women asset managers in Africa.
In support of the Bank’s High 5 agenda, Kilonzo innovated mortgage finance lending operations at the Bank for Improving the quality of life for the people of Africa. She has also done good work on the financial sector integration pillar in support of the Bank’s Integrate Africa strategy. To boost liquidity, and the depth of Africa’s capital markets and regional financial integration, she led the Bank’s formal engagement with the Africa Stock Exchange Association. She directed the Bank’s conceptualization and co-funding of the Africa Exchanges Linkages Project, which led to a roadmap study recommending modalities of securities exchange linkages in regional sub-markets. She has also hosted several successful knowledge events.
Prior to joining the African Development Bank, Kilonzo held various executive and advisory positions in the financial sector. From 2005 to 2012, she worked at the Capital Markets Authority of Kenya first as Manager, in the Compliance and Market Operations Department, and later as the Chief Executive Officer, responsible for developing and regulating the entire securities and capital markets in Kenya while advising the Government on capital markets and financial policies. She led the expansion of the scope of the Capital Markets Authority’s approval and regulation of vanilla capital market products comprising debt and equity to more complex, structured products such as commodity and financial derivatives, futures, real estate investment trusts, asset backed securities and Islamic capital markets instruments. Previously, Kilonzo worked as Senior Associate, Corporate Finance Advisory Services, at PricewaterhouseCoopers in Kenya between 2004 and 2005, and as Senior Compliance Auditor at the Financial Industry Regulatory Authority Chicago, in the United States of America from 2000 to 2004. She started her career as an internal Auditor at the GE Capital Subsidiary in Chicago.Kilonzo holds a Master of Business Administration in Corporate Finance from the Loyola University Chicago Graduate School of Business, Illinois, United States of America, and a Bachelor of Commerce, Accounting degree, from the Catholic University of Eastern Africa, Nairobi, Kenya. She is also a Chartered Public Accountant (CPA) of the United States of America.
Director, Syndication and Technical Services Department
The African Development Bank is pleased to announce the appointment of Olivier Eweck as Director, Syndication and Technical Services Department, effective from February 1, 2018
Eweck is a citizen of Cameroon and was until this appointment the Manager, Financial Technical Services Division, for the African Development Bank since 2009. He brings into this role over 18 years of diversified experience in financial and capital markets, including portfolio management, private-sector investment as well as quantitative and derivative expertise
As Principal Financial Analyst and later as Manager of the Financial Technical Service Division, he was responsible for product innovations and development as well as marketing of the Bank’s local currency funding initiatives and client advisory services. He developed competitively priced and innovative financial products (debt and equity) for countries and private sector clients, drafted guidelines and established responsibilities and risk controls for their implementation across the Bank, monitored the Bank’s competitiveness and relevance to a variety of clients and made recommendations to Senior Management and the Board on the Bank’s pricing policy. He also identified and originated funding requirements in African currencies, executed funding programs and recommended strategies and instruments for the management of these resources pending their disbursement to projects.
Earlier, Eweck worked as a Portfolio Manager between 2006 and 2009, when he managed the Bank’s and affiliates’ fixed-income portfolios (African Development Fund, Nigeria Trust Fund). As an Investment Officer and Private Sector Analyst, he planned, prepared and coordinated preliminary evaluation notes on new projects between 2004 and 2006.
Prior to joining the African Development Bank, Eweck worked on Equity Derivative Structuring at Société Générale – Paris La Défense, France from 2002 to 2004, and as a Wall Street Trader on the ISE, SG COWEN, and New York from 2001 to 2002.
Eweck holds a Master’s degree in Applied Mathematics and General Engineering from Ecole Polytechnique, Palaiseau, France, and a Master’s degree in Finance and Economics from Ecole Nationale Des Ponts et Chaussées, Marne La Vallée, France.
Director, Regional Integration
The African Development Bank is pleased to announce the appointment of Moono Mupotola as Director, Regional Integration, effective from March 1, 2018.
Mupotola is a Zambian national. Before the launch of the Bank’s new business delivery model, she was the Director in charge of the Regional Integration and Trade Department. She has over 20 years of in-depth experience in trade and regional integration across Africa. She joined the Bank in 2009 as Division Manager, Regional Integration and Trade, and has provided strategic oversight and leadership for the Bank’s trade and regional integration agenda by supporting research, infrastructure projects, capacity-building programmes and the reform of regulations and policies. She initiated and established the Bank’s Africa Trade Fund and led the development of the 2014-2023 Regional Integration Strategy. She provided strategic oversight and leadership to key divisions, coordinated and prioritized projects for the African Development Fund, and provided advisory services on trade, investment, regional programs and multinational operations. She represented the Bank at global and African institutions on all matters regarding regional integration, trade, investment and regional infrastructure. She has provided significant expertise in the design of trade and transit facilitation measures in Africa, and technical support to the Africa Union Commission, Regional Economic Communities and Regional Member Countries. She has also helped drive the delivery of strategy, and the creation of results management tools, and knowledge frameworks. She also led inter-organization coordination and resource mobilization while managing a team to generate knowledge for policy change.
Mupotola earlier worked as Regional Policy Consultant for the Food Agriculture Organization Regional Office in Zimbabwe between 2006 and 2009; Trade Specialist at the SADC Trade Hub in Botswana and Zimbabwe between 2002 and 2004; as a Development Consultant in Zimbabwe from 2004 to 2006; and as Division Head and Chief Agricultural Economist at the Ministry of Agriculture, Directorate of Planning and Policy in Namibia from 1997 to 2002.
Mupotola holds a Bachelor of Arts degree from Bennington College, Vermont, United States of America, and a Master of Philosophy degree from Cambridge University in the United Kingdom. She also has post-graduate qualifications in Leadership from the Wharton Business School, United States of America, and in Strategic Management from Cranfield Business School, United Kingdom.
Director, Water Development & Sanitation
The African Development Bank is pleased to announce the appointment of Wambui Gichuri as Director, Water Development and Sanitation, effective from March 15, 2018.
Gichuri is a Kenyan national, and joins us from the World Bank, where she had served as Water Practice Manager, Africa Region since July 2016.
Gichuri brings to the African Development Bank rich knowledge of Africa and strong global partner relationships. She has extensive leadership and management experience in the water sector, having developed and implemented several regional and country sector strategies and programs that respond to client needs.
At the World Bank, she has been responsible for leading the sector strategy, managing a water portfolio including water supply, sanitation, water resources management, irrigation and drainage in 12 countries. She joined the World-Bank in June 1998 as a Water and Sanitation Specialist, and worked as the focal point for sector dialogue and as a key team member of operations in Kenya, Uganda, Tanzania, and Mozambique. In June 2004, she became Senior Water and Sanitation Specialist, and as Task Team leader and key team member for operations and knowledge activities in Kenya, Uganda and Tanzania. In July 2008, she became the Regional Team Leader, Water and Sanitation Program in Africa, responsible for Africa’s Regional Technical Assistance and analytical program and strategy covering 14 countries. Thereafter, she was promoted to become Water Sector Manager for Latin America and the Caribbean region between April 2012 and June 2016.
Gichuri had earlier worked for the Business and Economics Research Company, Kenya, first as Project Manager and later as Deputy Research Director between 1990 and 1997, and led the Task Team for a large Sida-funded program covering more than 10 districts, in addition to over-seeing the company’s operations, staff and budget.
She holds a Master’s Degree in Economics, a Bachelor of Philosophy degree in Economics, Kenya and a Bachelor’s degree in Economics and Sociology from the University of Nairobi, Kenya.